The Office of Economic Development plans and administers Economic Development strategy to expand existing businesses and attract new businesses, which will provide job opportunities and expand economic growth within the City of Little Rock. Little Rock is a center for several major employers in a variety of industries including healthcare, service, government and agriculture.

Little Rock is located in the center of the country and the second fastest-growing region in the U.S., with 40 percent of the nation's population and buying power within a 550 mile radius. Little Rock is where "America Comes Together" located at the crossroad of Interstate 30 and the most heavily traveled Interstate in the nation, Interstate 40.

Competitive wages and Arkansas' right-to-work environment provide an excellent workforce environment for businesses. Twenty-eight Fortune 500 companies operate within the Little Rock Metropolitan Statistical Area.

The Little Rock National Airport, less than three miles from downtown, is served by 7 major airlines and five other airlines providing more than 80 departures and arrivals daily, with 87% of those being jet flights. The passenger terminal can handle two million passengers per year and can accommodate and service 12 aircraft, which carry nearly 20 million pounds of air freight annually in addition to passengers The Little Rock National Airport is operated by the Airport Commission, whose members are appointed by the City Board of Directors.

The Arkansas River runs past downtown Little Rock and is part of the McClellan-Kerr Navigation System, one of the largest projects of the U.S. Army Corps of Engineers. The system provides a 448-mile navigation channel for barge traffic from the Mississippi River northwest to 15 miles east of Tulsa, Oklahoma. The Port of Little Rock, on the Arkansas River is a designated Foreign Trade Zone and a U.S. Customs Port of Entry. This status allows goods to be stored and processed there without custom duties or bonds being paid until products are finished and sold or moved out of the zone.

The City of Little Rock has seen a steady increase in economic development activities. This is due in large part to an active private sector and the strong leadership of the Greater Little Rock Chamber of Commerce. Manufacturing, transportation and service sector employment are also growing steadily. Little Rock is one of the top 15 aggressive development markets in the nation and has doubled in the past 30 years, with projections indicating it will double again during the next 20.

Government leaders are committed to retaining, creating and expanding job opportunities for the service, retail and industrial sectors of the community. As a result of this commitment, Little Rock is experiencing unprecedented development and expansion in the downtown corridor. Construction is about to begin on a $20 million expansion to the Statehouse Convention Center. The River Market has resulted in new businesses throughout the River Market District, including a $7.5 million renovation and development of the Museum Center building. This building houses the Arkansas Science and History Museum, restaurants and commercial information technology enterprises.

The Central Arkansas Library has also relocated to the River Market District completing a $12.5 million renovation of its new home. The City has approved grant applications for the restoration of seven historic building facades in the area. The grants were matched by private owners to repair, rehabilitate and restore underutilized structures for office, commercial and loft apartment space. The City of Little Rock and River Market District businesses have worked to provide $1.3 million in streetscape improvements in the area, including 12 foot-wide sidewalks, ornamental lights and street trees.

In addition, the construction of the Alltel Arena, a 20,000 seat multipurpose event center/arena, across the river in North Little Rock, is in progress. The announcement by the White House that the new Clinton Presidential Library will be located in Little Rock will certainly provide a myriad of business opportunities and tourist activity.

The City's Economic Development Office administers local "Advantage Arkansas" Programs and visits businesses to determine eligibility for the former Enterprise Zone Program to secure endorsements of various businesses. This office also provides information to developers and businesses regarding economic development programs, zoning requirements, special tax provisions and related economic incentives and information. In addition, the Economic Development Office serves as the City's representative for the Chamber of Commerce Briefing Center; analyzes new business proposals, prepares developer packages and presents information to encourage business location. Decommissioning closely with this office, the Office of Minority Economic Development was established in 1994 as a result of FUTURE-Little Rock.